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Sunday, October 6, 2013

How to handle an inheritance and avoid common mistakes

Inheriting a large sum of money - and "large" is relative to your circumstances - can be overwhelming. A lot of people don't handle it well. This article from www.consumerreports.org gives ten tips for dealing with the inheritance in a way that will reduce the emotional and financial impact on you and those around you. It's an American article, so there are a few details in it that are specifically American, but the advice and ideas are just as sound for those of us here in Canada. Click here to read the article.

Lynne is the author of 10 books about estate planning, and one book about legal history.

Lynne is the editor of MC2, the national magazine of Mensa Canada.

Lynne is the co-host of The Law Show, a weekly program on VOCM radio.

Lynne is a Learning Group Facilitator (online instructor) for the Legal Research and Writing and the Written Advice and Advocacy modules of the Alberta Bar Admission course.

She is a member of the Law Society of Newfoundland and Labrador, the Law Society of Alberta, the Canadian Bar Association, STEP Canada, ADR Atlantic Institute, the Canadian Institute of Certified Executor Advisors, and Mensa Canada.

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No blog post or online article could ever take the place of a one-on-one discussion with an experienced professional advisor. Even when responding to a reader question, the answers on this blog are intended as general information only. Don't rely on general information as if it were legal advice. Use what you read here as a starting point for your research or enquiries.